KARACHI: The Pakistan Stock Exchange has once again proven how investors react positively when economic confidence is restored. The news of a ceasefire between Iran and Israel created new enthusiasm in the market, which resulted in a rally of more than 6,000 points in just a few hours.
The market saw such a rally at the start of business that trading had to be stopped for some time as soon as the five percent increase limit was crossed; this is proof that investors are returning with full confidence. The index closed at 122,246 at the end of the day, not only reversing the previous day’s decline but also setting a new record.
Analysts say that this relief is not temporary but may be a sign of global stability. The financial and banking sector in particular led this rally in the market.